The Reagan myth

When Republicans say they believe in President Reagan’s policies, including his tax cuts, I wonder how much they know about his presidency.

During Reagan’s eight years in office, 138 members of his administration were convicted, indicted or investigated for criminal activity.

Reagan’s policy of deregulating banks and financial institutions enabled them to squander hundreds of billions of dollars, give obscene CEO salaries, caused plummeting wages for the working people and the flight of U.S. manufacturing abroad. All are products of Reagan’s free-market zealotry and gutting of the public sector.

Large tax cuts were given to corporations. General Electric, which employed Reagan as its spokesman, paid no taxes for three years. The federal debt almost tripled from $994 billion to $2.6 trillion during Reagan’s presidency.

President George W. Bush continued Reagan’s policies of unfunded tax cuts with a $2 trillion tax cut that richly favored the wealthy and corporations. The federal debt almost doubled from $5.6 trillion to $10.6 trillion under Bush.

Unfortunately, it is our children’s children who will be paying for these trillions of unfunded tax cuts that greatly benefit the wealthy and corporations long after we are gone.

Larry L. Whitesitt

Fairfield